Meanwhile, prices globally continue to rise. US prices are around $1,900 – $2,100 a tonne, while Chinese HRC prices are around $870 a tonne. Synopsis India’s top primary steelmakers have reduced prices on the benchmark hot-rolled coil (HRC) by up to 3% for July, halting the pace — and sequence — of increases that began … Read more
MUMBAI: One of the defining characteristics of the Covid-19 bull market has been its propensity for nostalgia. The heroes of the yesteryears are back in vogue as if this were some Marvel comic movie where you can’t kill them so you keep resuscitating them in the storyline. Look at value investing, for example, the bruised … Read more
NEW DELHI: The initial public offer (IPO) of Shyam Metalics and Energy will hit the Street on Monday. The producer of long steel products is looking to raise about Rs 909 crore from a mix of fresh issue and offer for sale. It is looking to use the net proceeds from the fresh issue mainly … Read more
Mumbai: Who are the clear winners — and relative stragglers — of the global commodities supercycle? Metals, mining, oil & gas companies should gain, but higher output prices of these industries will have a negative impact on user industries — auto, real estate, consumer staples, and durables. Global commodity prices have surged in 2021, with … Read more
Nifty futures on the Singapore Exchange traded 14 points, or 0.10 per cent, lower at 14,518.50 in signs that Dalal Street was headed for a negative start on Wednesday. Here are a dozen stocks which may buzz the most in today’s trade: Tata Steel, Adani Green Energy: Adani Green Energy, , SRF, , Gillette India, … Read more
Mumbai: CLSA sees upside risk to its estimates on and on consensus estimates after the company’s subsidiary Bhushan Steel reported higher-than-expected earnings before interest, taxes, depreciation, and amortisation per tonne. The brokerage, which has a ‘buy’ rating and target price of Rs 950 on Tata Steel, said long products segment also reported strong operating earnings … Read more
The Insolvency and Bankruptcy Board of India (IBBI) is setting up two online platforms for selling distressed assets under Insolvency and Bankruptcy Code, opening up markets for soured debt involving resolution plans, interim finance and liquidation assets. The move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both … Read more
Mumbai: Liberty Steel Group led by Sanjeev Gupta announced on Friday that the company has made a non-binding indicative offer (NBIO) to acquire the steel activities of Thyssenkrupp Europe. “With both transformation experience and an entrepreneurial approach, a possible combination of Liberty Steel and Thyssenkrupp Steel would create a strong group well positioned to tackle … Read more